From small business owners to innovative startups, shifts in age demographics and the role of women, military, and foreign-born U.S. citizens, the face of  American entrepreneurship continues to evolve.

According to the latest Global Entrepreneurship Monitor (GEM) 2024–2025 U.S. Report, Total Entrepreneurial Activity (TEA), or the percentage of the 18-64 population who are either an expected entrepreneur or owner-manager of a new business, has climbed back to 19% – matching its previous record high.*  This surge highlights a remarkable wave of innovation and determination among Americans launching and growing new post-COVID ventures.

Key emerging insights from 2024-2025 report include:

• Artificial Intelligence (AI) – The latest GEM report shows that 63% of entrepreneurs and nearly half of established business owners are already using generative AI tools to boost efficiency, spark innovation, and gain a competitive edge. This rapid adoption underscores how technology is fueling the next wave of business growth and creativity in the U.S.
• The trend toward younger entrepreneurs reported in 2023 continued in 2024. Additional demographic results show equal participation across income and education levels.
• Women entrepreneurs play a powerful role in the U.S. economy, driving growth through their strong participation, innovation, and influence across industries.
• Active-duty military personnel were highly involved in both entrepreneurship and established business phases, as was also the case for U.S. citizens born abroad.
• Data reveals a meaningful shift in how entrepreneurs define success. Most are now integrating environmental and social innovation into their business priorities and decisions.

Looking ahead:
There are certainly trends to monitor and areas of inquiry to pursue, as the bottom line continues to reflect that entrepreneurs of all kinds play a vital role in driving the U.S. economy forward. From the large-scale entities positioned at the top to the small, homespun local businesses, their efforts merit continued study and attention as researchers, economic developers, policymakers, and other stakeholders consider paths forward that will support ongoing growth and advancement, paving the way for future entrepreneurs to follow.

Individual and collective entrepreneurial efforts fuel job creation, strengthen global competitiveness, and spark new ideas and industries that shape a stronger, more dynamic future for society.

*The Global Entrepreneurship Monitor (GEM) United States National Report draws on the 25th worldwide survey of entrepreneurship. Each year, GEM teams across more than 120 economies gather insights into how people start and run businesses, their motivations, and their perceptions of entrepreneurship. In the U.S., Babson College has led this research since 1999, providing a comprehensive view of the country’s entrepreneurial landscape and how it continues to evolve.

Source
Authors and the Global Entrepreneurship Research Association (GERA) (2025)  National Entrepreneurship Assessment for the United States of America. https://issuu.com/babsoncollege/docs/gem_usa_report_2024-2025

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